Fifth Third Bancorp is an American diversified financial services company, based in Cincinnati, Ohio.
It is publicly listed on the NASDAQ Stock Market under the ticker symbol ‘FITB’.
The company has approximately 1,309 full-service Banking Centers, including 102 Bank Mart® locations.
It is one of the largest money managers in the Midwest, with $305 billion in assets under care, as of June 30, 2014.
The Bancorp reports on four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Bancorp also has a 25% interest in Vantiv Holding, LLC.
The history of the company traces back to when the Bank of the Ohio Valley opened in Cincinnati on June 17, 1858.
Notable acquisitions and mergers include: Enterprise Federal Bancorp Inc., Ashland Bankshares, Inc. and subsidiary Bank of Ashland, R-G Crown Bank of Casselberry, Florida, the purchase of First Charter Bank of Charlotte, North Carolina, the acquisition of nine branch locations in Atlanta, GA, from First Horizon National Corporation, and a joint venture with Advent International.
Overview
- Vice Chairman and CEO: Kevin T. Kabat
- CFO: Tayfun Tuzun
- Type: Public
- Industry: Banking
- Publicly listed on the NASDAQ Stock Market
- NASDAQ stock ticker symbol: FITB
- S&P 500 Component
- Revenue: $7.218 billion USD (2013)
- Net income: $1.826 billion USD (2013)
- Diluted earnings per share: $1.68 USD (2013)
- Founded: 1858
- Employees: 19,446 (2013)
- Corporate headquarters: Fifth Third Center, 38 Fountain Square Plaza, Cincinnati, OH 45263, USA
- Investor relations contact number: 866-670-0468
- Website: https://www.53.com/
| Operating data (in $ millions) | 2013 | 2012 |
| Total interest income | $3,973 | $4,107 |
| Total interest expense | $412 | $512 |
| Net Interest Income | $3,561 | $3,595 |
| Total noninterest income | $3,227 | $2,999 |
| Income Before Income Taxes | $2,598 | $2,210 |
| Net Income | $1,826 | $1,574 |
| Net Income Attributable to Bancorp | $1,836 | $1,576 |
| Balance sheet data (in $ millions) | ||
| Total assets | $130,443 | $121,894 |
| Total liabilities | $115,817 | $108,130 |
| Total equity | $14,626 | $13,764 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $4,595 | $2,557 |
| Net cash used in investing activities | $(10,184) | $(6,533) |
| Net cash provided by financing activities | $6,326 | $3,754 |
| Cash and Due from Banks at End of Period | $3,178 | $2,441 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $1.70 | $1.58 |
| Diluted earnings (loss) per common share | $1.68 | $1.55 |
Source: “Fifth Third Bancorp 2013 Annual Report FORM 10-K”